Uniti Group Inc. (NASDAQ:UNIT) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -11.00% to the previous day’s close as strong demand from buyers drove the stock to $3.48.
Actively observing the price movement in the last trading, the stock closed the session at $3.91, falling within a range of $3.47 and $3.86. The value of beta (5-year monthly) was 1.33. Referring to stock’s 52-week performance, its high was $11.71, and the low was $2.94. On the whole, UNIT has fluctuated by 15.23% over the past month.
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With the market capitalization of Uniti Group Inc. currently standing at about $839.24 million, investors are eagerly awaiting this quarter’s results, scheduled for May 04, 2023. The company’s Forward Dividend Ratio is 0.60, with its dividend yield at 17.24%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.12, which is expected to increase to $0.14 for fiscal year $0.27 and then to about $0.46 by fiscal year 2024. Data indicates that the EPS growth is expected to be -72.40% in 2024, while the next year’s EPS growth is forecast to be 70.40%.
Analysts have estimated the company’s revenue for the quarter at $290.38 million, with a low estimate of $288 million and a high estimate of $292.9 million. According to the average forecast, sales growth in current quarter could jump up 2.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $1.16 billion, representing an increase of 3.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that UNIT’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of UNIT currently trading nearly -2.55% and 0.02% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 46.39, while the 7-day volatility ratio is showing 7.19% which for the 30-day chart, stands at 7.24%. Furthermore, Uniti Group Inc. (UNIT)’s beta value is 1.30, and its average true range (ATR) is 0.25.
A comparison of Uniti Group Inc. (UNIT) with its peers suggests the former has fared considerably weaker in the market. UNIT showed an intraday change of -11.00% in last session, and over the past year, it shrunk by -67.66%%. In comparison, Sunstone Hotel Investors Inc. (SHO) has moved lower at -2.75% on the day and was down -11.27% over the past 12 months. On the other hand, the price of Annaly Capital Management Inc. (NLY) has fallen -2.78% on the day. The stock, however, is off -29.31% from where it was a year ago. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.
Data on historical trading for Uniti Group Inc. (NASDAQ:UNIT) indicates that the trading volumes over the past 10 days have averaged 2.55 million and over the past 3 months, they’ve averaged 3.62 million. According to company’s latest data on outstanding shares, there are 236.09 million shares outstanding.
Nearly 0.50% of Uniti Group Inc.’s shares belong to company insiders and institutional investors own 86.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 19.35 million shares as on Apr 27, 2023, resulting in a short ratio of 6.24. According to the data, the short interest in Uniti Group Inc. (UNIT) stood at 8.11% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 21.18 million. The stock has fallen by -37.07% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the UNIT stock heading into the next quarter.
